BlackBerry announces common share purchase program

In addition to announcing their Q1 Fiscal 2018 results, BlackBerry has now also announced that it has received acceptance from the Toronto Stock Exchange to purchase for cancellation up to 31,000,000 BlackBerry common shares.

In addition to announcing their Q1 Fiscal 2018 results, BlackBerry has now also announced that it has received acceptance from the Toronto Stock Exchange to purchase for cancellation up to 31,000,000 BlackBerry common shares, representing approximately 6.4% of the outstanding public float as at May 31, 2017.

"The purpose of this repurchase program is to offset a portion of the expected dilution from our equity incentive plan and from conversion of our 3.75% Debentures," said BlackBerry Executive Chairman and CEO, John Chen. "We intend to take advantage of our strong cash position to purchase our shares when the market price does not reflect what we view to be the underlying value and future prospects of our business, without adversely affecting our strategic initiatives," added Mr. Chen.

The actual number of shares to be purchased and the timing and pricing of any purchases under the share repurchase program will depend on future market conditions and upon potential alternative uses for cash resources.

BlackBerry Announces Common Share Purchase Program

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